Friday, July 12, 2013

Sentiment Analysis: The New Game Changer for Entertainment Industry

Sentiment Analysis is being considered by entertainment industry
experts as the new game changer for films and television.

In December 2012, IBM and USC Annenberg Innovation Lab conducted a Film
Forecaster study to assess the public sentiment on social media channels
regarding those movies slated for release over the holiday period. The study’s intention
was to understand what people thought of and expected from these movies.

Using IBM’s Social Sentiment Index the study found that just before
its release, the film Twilight: Breaking
Dawn, spiked a 90% positive sentiment on Twitter. However, soon after its
release, the positive sentiment plummeted to 75%. Though it appeared that viewers
had been disappointed after the initial excitement, a closer analysis revealed
that the negative sentiment was not against the movie but Twilight fans were
“sad” that the series was ending.

This proved that Sentiment Analysis can work wonders for the film
and television industry. In the Film Forecaster study, researchers gained critical insights about how people’s
sentiments surrounding a film before and after its release proves detrimental
for the film’s box office success.

Take another example – just before the release of Puss in the Boots
last year, Dreamworks found out that the Twitter conversations surrounding the
film was negative. Soon, the movie’s marketers created an appealing and
interesting TV ad campaign to check the negative sentiments. The strategy
worked. Not only did the movie become a hit but it also garnered a lot of
positive mentions on Twitter.

This indicates that using Sentiment Analysis, film producers and movie
marketers can:

Before release – assess the sentiment building up
around the film as the countdown to its release begins.

After its release- Know how well a film will do.

Plan their next step towards making that movie a hit,
by basing the plan on the sentiment that has gathered momentum prior to the
release.

Understand accurately what their audience like and hate.
This knowledge will then prove vital in crafting custom made message and
marketing campaigns aimed for your audience.

Jonathan Taplin, the director of USC Annenberg Lab predicted that
Sentiment Analysis will bring in a revolution in the entertainment industry. In
other words, social media monitoring tools and Sentiment Analysis allows film
and television houses to glean valuable, actionable insights from public sentiment.
It allows them to position their film better, market it well and enjoy greater
success at the box office.

So, if you are a heading a film production house or leading the
marketing campaign of a soon to be released multi starrer, Sentiment Analysis
can help your films in turning it into a runaway hit. To know how write to info@shoutananalytics.com